2010 annual report - Texas Southern University

CAPITAL ASSETSMajor capital asset events during the current year include the following:• Building improvements to the School of Public Affairs werecompleted at a cost of $1,176,340;• The Leonard Spearman Technology Building with net book valueof $7,605,371 was demolished during the year;• Various building improvements were completed at a cost of$8,446,255 during the year, while various building renovationswere added to Construction in progress at a total cost of $657,204.REVENUES AND EXPENSES250200150100Economic FactorsLike other entities along the Gulf Coast, TSU suffered damages fromHurricane Ike in 2008. However, the institution is recovering and replacementcosts were covered by FEMA, insurance coverage proceeds and specialappropriation from the State.More detailed information about TSU’s financial position is presented in theAnnual Financial Report.5002010 2009n Total Revenuesn Total ExpensesSTATEMENT OF SOURces AND USES for fiscal year ended August 31, 20102010 % of TOTALSOURCESlegislative Appropriations $ 79,353,337 36%Tuition and Fees, Net of Discount 54,070,333 24%Gifts, Grants and Contract Revenue 71,433,510 32%Other Sources 17,256,006 8%Total Sources 222,113,186 100%USESSalaries and Benefits 107,654,771 51%operating Expenses 69,174,998 33%Scholarships 25,157,275 12%non- Operating Expenses 9,822,858 5%Total Uses 211,809,902 100%SOURCES OVER USES 10,303,284Beginning net Assets 136,570,573ENDING NET ASSETS 146,873,85725